Time for some Buffet Advice, page-26

It needs to be noted what they base their 51c on:
20ktpa yr 1
40ktpa yr 2
40 ktpa yr 3

So right off the bat you can tell they're being conservative even though I am sure the mine will start at 60ktpa.

I won't agree or disagree with the basket price as there just isn't sufficient info for me to make a better guess, opex should come down in a big way with grid power and use of nearby rail infrastructure

Once these battery results come out then we should start to see target prices with a dollar sign as this will be a great signal that the downstream processing facility to produce value added graphite product is a goer.